Posted by Bangalore: Trend Micro has acquired Cloud Conformity, an innovative Cloud Security Posture Management (CSPM) company. The buyout expands Trend Micro’s cloud based security services and offerings, addressing the complex issues around cloud infrastructure misconfiguration and compliance.
Started in 2016 in Australia’s Sydney city, Cloud Conformity is an early stage venture. It brings complementary capabilities to Trend Micro that automatically identify and fix a range of cloud infrastructure configuration issues. It also optimizes costs and helps ensure compliance with leading industry regulatory standards such as PCI, GDPR, HIPAA and NIST.
For Trend Micro, the rationale behind Cloud Conformity’s buyout is building an integrated security for the cloud. “We have been laser focused on building integrated security for the cloud since its birth over a decade ago, unlike other vendors who are now attempting to stitch together disparate cloud technologies,” said Eva Chen, CEO – Trend Micro.
“As more enterprises move to the cloud, our customers feel they’re operating amid a wild-west approach to cloud implementations that leave them with unmanaged risk,” added Chen.
“Cloud Conformity understands these implementations and the risks. Their offering perfectly complements our own portfolio and provides immediate value to customers. Both the people and technology are a great fit for Trend Micro,” she commented.
Trend Micro has not disclosed financial details of this deal. But said that it will leverage Cloud Conformity’s technology along with its employees’ valuable expertise and experience. Michael Watts, Cloud Conformity’s CEO along with his team and staff will join Trend Micro.
“We are excited for the opportunities that will come from being part of the leading cloud security provider – amplifying what we do best, while allowing our offerings to expand in ways we couldn’t have done on our own,” said Michael Watts, CEO – Cloud Conformity.
“We think customers will love this simplified approach to security and compliance across their entire cloud environment, including AWS, Azure and Google Cloud – providing security guardrails to let them go faster and do more,” added Watts, who along with Mike Rahmati and Xabi Errotabehere founded Cloud Conformity.
Cloud Conformity has been announced as AWS technology partners of the year 2019.
Through 2023, at least 99% of cloud security failures will be the customer’s fault, according to Gartner.
Gartner states that by 2024, organizations implementing a CSPM offering and extending this into development will reduce cloud-related security incidents due to misconfiguration by 80%.
Trend Micro’s comprehensive set of cloud security services provide assurance for businesses that their risk is effectively managed while simultaneously meeting compliance standards.
“Our rapid expansion with AWS, complemented by our dedication to security and compliance, is made actionable and scalable through the Cloud Conformity tool,” Russell Jones, Principal Architect – Virgin Australia.
“Their product provides us with greater visibility, the ability to improve performance and optimize costs, assuring continuous resilience as we grow,” added Jones.
“Our research is clear that organizations of all sizes are adopting cloud-based delivery and, in doing so, are often using not only compute services, but also storage, messaging, and many other services,” said Fernando Montenegro, Principal Analyst – 451 Research.
“With this acquisition, Trend Micro is able to extend its security offerings to organizations looking for assistance with cloud security beyond securing compute workloads,” added Montenegro.